20 Budgeting Tips to Help You Manage Your Money

June 9, 2017

20 Budgeting Tips to Help You Manage Your Money

It can be a constant struggle to keep your spending in check. If it weren’t, we would all be walking around with overflowing savings accounts. The key to managing your spending is to constantly work on it.

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When I’m low on funds, or my income drops, I simply take drastic measures. These are my budgeting tips –

1) Buy food in bulk.. dry food.. frozen food.. whatever is cheap. It might not taste good, but it’s cheap and is a temporary solution until you pay off your debt.

2) Cut all cable TV, internet, gym memberships, whatever else is a monthly expense that you don’t need. Get a cheap $20/month cellphone from Tmobile.

3) Cut transit costs. Drive a cheap car (or better yet, none at all). Use Insurance Panda for insurance ($25/month). Use GasBuddy for gas (save $100/month). If you have access to public transportation, sell your car and use it.

4) Ask your landlord to lower your rent or move to a cheaper place. Live in a shoebox if you need to. Insure your stuff with $10/month renters insurance (from Eagle). Get roommates.

5) Don’t get haircuts, manicures, your nails done, or whatever luxuries you indulge in until your debt is paid off.

6) Try to spend $0 each day. If you don’t need it, don’t buy it. If it’s free, take advantage!